首尾相差125个百分点 QDII基金近一年业绩显著分化

Group 1: QDII Fund Performance - The performance of QDII products has shown significant differentiation over the past year, with the top-ranking fund, Huatai-PineBridge Hong Kong Advantage Selected Mixed A, achieving a net value increase of 111%, leading the bottom-ranking products by 124.6 percentage points [1] - As of December 17, the average net value increase for QDII funds over the past year was 20.9%, with notable performers including Huatai-PineBridge Hong Kong Advantage Selected Mixed A (111%), Chuangjin Hexin Global Pharmaceutical Biotechnology Stock A (86.54%), and GF Zhongzheng Hong Kong Innovation Medicine (74.14%) [1] - The top ten funds in the QDII performance rankings are primarily Hong Kong stock funds, many of which have significant holdings in the Hong Kong pharmaceutical sector [1] Group 2: Market Trends and Analysis - The Hong Kong innovative pharmaceutical sector has recently experienced a significant adjustment, leading to a decline in the net value of related products, attributed to seasonal outflows of southbound funds and a decrease in the holding ratio of leading pharmaceutical stocks in the Hong Kong Stock Connect [2] - Despite the recent downturn, the fundamental outlook for the innovative pharmaceutical industry remains positive, with ongoing trends of innovative drugs going global, benefiting the entire supply chain, including upstream CXO and research services [2] - The performance of Saudi-themed ETFs and oil-related products has been poor, with two Saudi-themed products seeing net value declines of over 10% in the past year, while several oil-focused funds also reported negative returns [2] Group 3: Future Outlook - Looking ahead to global asset allocation for the next year, there is a belief that Hong Kong stocks still possess significant low valuation advantages amidst high valuations in most global markets, with expectations of orderly capital inflows as the external environment stabilizes and the Chinese economic outlook improves [2]